Abbotsford house prices go up

The Age reported yesterday that the median Abbotsford property sale price — that is the middle number when all the sales results are lined up in chronological order — was 12.7% higher in the first three months of this year compared with the last three months of last year. But there were fewer than 30 sales results in the line of numbers, and the data are therefore implicitly not statistically reliable. The median was $575,000 in the first 3 months of this year, compared with the median for the whole of Melbourne of $380,000, and the median for houses within 10 km of the city of $566,000 (that figure is up 15% on a year ago, compared with the whole of Melbourne figure which is up only 5.3%). Richmond and Collingwood were also up about 10%, but Fitzroy — also with fewer than 30 sales — and Clifton Hill were down about 5%. The median sale prices in the last 3 months were:

Abbotsford $575,000

Collingwood $533,250

Clifton Hill $531,250

Kew $993,500

Richmond $610,000

Fitzroy $572,500.

There was a blip in Carlton, where the median price was $945,000, up more than 50% on the median in the previous three months.

2 Replies to “Abbotsford house prices go up”

Median is the property most commonely sold – is usually in the middle – but can be skewed if the is a big difference in property types sold – can be very fifferent if an equal number of one bedroom units and three/four bedroom houses are sold in the same period.